30 Billion dollar loan......not so cool!

So they drove down to Washington to beg for 30 billion. Now we find out that it will be a 30Billion dollar loan. We also learn that Washington is telling them what they need to have in their plans. Here comes a warning....

Remember the 700 Billion....How they sold us on the idea that the GVT would purchase securities from financial institutions thus freeing up cash flow in the credit markets???? Didn't do it did they? Nope within two days Paulson says he may buy stock instead....may buy mortgages....now Congress is asking for some accountability for the money....really??? in less then a few months we now need to find out where the money is going? So no matter how they sell this next bailout....it's just a bailout....corporate welfare socialism at it's bets.

Next...they are now telling the big three how to make cars....maybe even tell GM and Chrysler they have to merge before they get the money!! This is even crazier. There sit congressman and Senators telling professional car manufacturers how to build cars....their kidding right? These idiots can't even dole out money in an effective manner.

Lastly, I am not a big fan of the Big three....but is the current situation their fault? NOPE...it's the Government's and our society at large for the most part. That's right...demand for cars is down from a 17 million run rate this year to 11 million. You cannot run your company on half the revenue without major surgery. Are people buying all those cars from someone else? Nope...they are not buying them. The credit mess is the culprit. The loosening of credit terms allowing for "stupid spending" along with the credit crunch has killed demand for high cost consumer items. Car manufacturing is complicated and capital intensive. We need to ensure these are LOANS with some personal Guarantees by the managment (this will never happen) We also need for Congress, most of which have never run anything but a campaign...get out the way.